Virginia R Hoato's Blog – Topics That Matter: Real Estate news as well as information pertinent to your everyday life.

Over and over again I come across people that will not use a REALTOR® to help them buy a property because they have been misinformed about the cost of having one.  To go even further my partner’s co worker and her husband decided to look for a house without representation and they ended up having to pay a lawyer to be able to get a deposit back.  Reason? They got out of the contract at the wrong time.  The lawyer charged them a large fee to help them get the money back.  As large as $ 5,000.00.  So, at the end of the road can we say that it was worth it?  You tell me.  I don’t know if they got the money back.  But, being a REALTOR®, I do know one thing for sure:

Hiring an agent (also known as exclusive buyer’s agent)  to buy a house  does not cost a penny.  In fact an Exclusive Buyer Agent (EBAs) work solely for buyers, avoiding the conflicts of interest inherent in the traditional seller-oriented purchase transactions. This creates an unique relationship of committed trust and care assuring buyers the best possible home buying experience.

Now, I am sure the question is:  How do they get paid?  Simple.  The seller’s agent (also known as the listing agent) splits his/her commission with the buyer’s agent.  If it is a new home, the builder already has a % calculated to be paid to the buyer’s agent at closing and it does not affect the price of the home.

Now that you know this, would you hire a REALTOR® to represent you?

Virginia R Hoato